SMALL firms in Northern Ireland have come out top in a comparison with their counter parts in three regions of England, according to a survey published by the Northern Ireland Economic Research Council (NIERC).
The survey questioned over 6,000 small companies (employing fewer than 50 people) in Northern Ireland, Wearside, Hertfordshire, and Leicestershire.
It showed that over a four year period, small firms in Northern Ireland had expanded their turnover by 84 per cent, compared to 71 per cent in Wearside, 48 per cent in Leicestershire, and 29 per cent in Hertfordshire.
Northern Ireland companies were also more likely to under take formal market research.
This factor could probably be ascribed to the activities of the small business agency, LEDU, said NIERC's director Dr Graham Gudgin.
Dr Gudgin described it as vital for the future of a company.
Managers who utilise formal market research have the greatest impact on growth, he said.
However, he pointed out that the tendency of Northern Ireland small firms to sell to the British market through an agent rather than going there themselves was having a detrimental effect on their performance.
It probably reflected the cost of crossing the Irish Sea, but direct contact was an important factor in a firm's ability to make an impact on the British market.
